How to record: Product purchased and returned for refund

[Grant]

> In the same account.   The first would be:
>
>   Checking -> Expense
>
> The refund would be:
>
>   Expense -> Checking
>
> (Or Credit Card, or whatever)
>
> -derek

Yes, that makes perfect sense.  Thanks Derek.

- Grant


> > How do you guys record the debit and credit when you purchased
> > something and returned it for a refund?  It seems like it shouldn't be
> > recorded as an expense or as income, but how should the debit and
> > credit be assigned?
> >
> > - Grant